Downtown Two-Unit
For Sale
$220,000
101 West Cecil Avenue, North East, MD 21901
Tenant-occupied residential property with two matching apartments and month-to-month tenancy.
Property Size1,702 SF
Price / SF$129.26
Days on Market135
Property Features for 101 West Cecil Avenue
General Information
Standard status
Active
Size
1,702 SF
Property subtype
Multi-Family / Fee Simple
Zoning
R3
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,263
Amenities
No
Microwave, Refrigerator, Stainless Steel Appliances, Oven/Range - Electric
No Pool
Above Grade, Below Grade
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Alberti Realty, LLC
(410) 652-2848
Listed By:
Joseph Warren Avampato · License #5002497
(410) 652-2848
Source:
Compass
Added: Apr 19
Changed: Aug 30
Last Checked: Aug 30 at 12:05PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Alberti Realty, LLC
Investment Insights
Based on property information with market context.
This 1702-square-foot duplex contains two residential apartments, each configured with two bedrooms and one bathroom. Built in 1900, the property includes electric range ovens, refrigerators, microwaves, and stainless steel appliances. Both units are occupied under month-to-month tenancies.
Located at 101 West Cecil Avenue in North East, the property is within city limits and carries R3 zoning. Exterior viewing is available by drive-by, while interior access is provided after an offer is accepted. The property is assigned to Cecil County Public Schools.
Located at 101 West Cecil Avenue in North East, the property is within city limits and carries R3 zoning. Exterior viewing is available by drive-by, while interior access is provided after an offer is accepted. The property is assigned to Cecil County Public Schools.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- 1702 square feet on a 0.04‑acre lot
- Both units occupied under month‑to‑month tenancies
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,927
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$338,540
$338.5K
Cap Rate 7%
$241,814
$241.8K
Cap Rate 9%
$188,078
$188.1K
Market Conditions
NOI Build-Up for 1,702 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.1K $15.36/SF
− Vacancy
−$2.0K −$1.15/SF
EGI
$24.2K $14.21/SF
− OpEx
−$7.3K −$4.26/SF
NOI
$16.9K $9.95/SF
Area
Cecil County, MD
Vacancy
7.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$338,540
Cap Rate 7%
$241,814
Cap Rate 9%
$188,078
Alternative Uses
Best Use
Multifamily LT 5
$241.8K
$211.6K – $282.1K
NOI $16,927 @ 7.0% cap · market cap 7.69%
Second Best
Apartment 5plus
$213.1K
$186.4K – $248.6K
NOI $14,914 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$631.2K
$552.3K – $736.4K
NOI $44,183 @ 7.0% cap · market cap 20.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
Explore this area
Business Placement
Demographics for 21901, MD
18,517
Population
7,952
Households
2.3
Avg Household Size
38
Median Age
33%
College-Educated
93%
High-School Grad
48.5 sq mi
ZIP Area
382
Density / Sq Mi
$113,107
Median Household Income
$61,293
Median Earnings
$1,418
Median Rent
$342,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied residential property with two matching apartments and month-to-month tenancy.
Where is this duplex located?
The property is located at 101 West Cecil Avenue North East, MD.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bathroom; 1702 square feet on a 0.04‑acre lot; Both units occupied under month‑to‑month tenancies
